Chase Bank to reopen next week under KCB management
20 April 2016, 11:48
Nairobi - KCB Group has been appointed to manage Chase Bank and could buy a majority stake in the closed lender whose branches will reopen next week, the central bank said on Wednesday.
The Central Bank of Kenya said in a statement that an understanding had been reached with KCB on "modalities to reopen Chase Bank Ltd in the next few days and the eventual acquisition of a majority stake in the bank." It said KCB would carry out due diligence to inform its decision on taking a stake.
Central Bank of Kenya Governor Patrick Njoroge told a news conference he had received nine indications of interest in the mid-sized lender that was put into receivership this month.
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